DSL created a multi-billion dollar industry. It was launched into the market by a startup who licensed the technology from a top US university. The IP changed the internet and catapulted this startup into a a world leader. For startups, developing an IP from the ground up is an expensive and risky endeavor. But there is a better way to launch a startup.
There are many ways to use intellectual property to get a big return on your investment. Producing and selling products is one option. Licensing rights to generate revenues from non-competitive products is a second option. But these aren’t the only options. Here are four ways to use licensing as part of your business strategy to get the biggest ROI on your IP investment.
The growth of IP and licensing is creating new, previously un-thought of ways to exploit and use it. Savvy IP owners are finding new sources of income by re-purposing their IP for use in a different industry or product application.
Intense competition makes firms more open to licensing outside intellectual property. In today’s interconnected market, your competition is no longer your competition. Instead, they are potentially your best business partner.
When it comes to developing new technologies, many large companies are finding creative ways of using licensing to partner with startups with promising new technologies. One of the biggest banks in North America is now in the startup funding game. TD Bank Group created a $3 million plus investment fund to provide patent application funding for startups in the fintech space.